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A for-profit entity issues cash-settled share-based awards (liability-classified) to executives on January 1, 20X1 under ASC 718. Each award pays cash equal to the value of 10,000 share units at the vesting date, and the awards vest after 3 years of service; the number of share units is increased by 20% if the entity's share price exceeds $60 at any point during the 3-year period (a market condition). At 12/31/20X1, the fair value of the liability for the awards (including the market condition) is $900,000 and executives have completed 1 of 3 service years. Which journal entry should the entity record at 12/31/20X1?
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